Suprajit Q1 Revenue Up 24% to ₹10.7B

Business Update

The overall Indian automotive sector grew by 22.1% during Q1 FY27, with Passenger Vehicles growing at 16.8% and two-wheeler segment growing by 22.8%. Global automotive and non-automotive markets had a muted quarter.

Key challenges included:

Geopolitical conflict in the Middle East continues
Higher oil and commodity prices impacting costs
Trade restrictions and global shipping crisis adding to uncertainties
Significant wage increases in India combined with labor shortages due to labor unrest in NCR region and elections in multiple states
Delayed passing of raw material and wage increases to customers at ICM and PLE divisions

The overall operating performance was good with consolidated revenue growing by 24% and EBITDA growing by 57.5%. The company achieved its highest quarterly operating revenue of ₹1,070 crore for the quarter.

Consolidated Financial Performance

| Revenue | 8,629 | 10,696 | 24% |

| EBITDA | 817 | 1,287 | 57.5% |

| EBITDA % | 9.5% | 12% | |

Note: Values in million INR. Operational EBITDA excludes non-operational income/expenses & forex gain/loss. Previous year's figures have been regrouped. Consolidated and GCM figures include SCS.

Standalone Financial Performance

| Revenue | 3,900 | 4,697 | 20.4% |

| EBITDA | 605 | 603 | -0.3% |

| EBITDA % | 15.5% | 12.8% | |

Debt and Investment Position

Group Debt (₹ million):

| Type | Mar-26 | June-26 |

| Long Term | 2,238 | 2,199 |

| Short Term | 5,612 | 5,556 |

| Total | 7,850 | 7,755 |

Group Investment (₹ million):

| Type | Mar-26 | June-26 |

| Investment in Mutual Funds & Bonds | 2,365 | 2,431 |

Division-wise Performance

Global Cable & Mechatronics Division including SCS (GCM)

Revenue growth: 27.6% for the quarter
EBITDA margin: 12.6% for the quarter (174.6% growth over Q1 last year)
Significant inflow of new business wins in Q1 across China, Mexico, and India
Successfully completed all major restructuring within the division at the end of March 2026
US OEMs and China's largest OEM are key drivers of growth

India Cables & Mechatronics (ICM)

| Revenue | 2,739 | 3,310 | 20.8% |

| EBITDA | 408 | 425 | 4.2% |

| EBITDA % | 14.9% | 12.8% | |

Revenue growth of 20.8% showing all-round improvements in OEM and aftermarket businesses
Operational EBITDA growth of 4.2% impacted by delayed pass-through of cost increases
Beyond cable projects continue to ramp up well: Braking products (CBS) grew by over 110%, Brake Shoes and pads by over 80%

Phoenix Lamps & Electricals (PLE)

| Revenue | 864 | 911 | 5.4% |

| EBITDA | 111 | 61 | -45% |

| EBITDA % | 12.8% | 6.7% | |

Operating revenue increased by 5.4%
Operating EBITDA declined due to strategically delayed price increases in aftermarket business
Trifa brand sales to Middle East continues to be subdued
Started ramping up deliveries to USA's largest retailer who awarded significant additional business

Sensors, Electronics & Displays (SED)

| Revenue | 304 | 450 | 48% |

| EBITDA | 21 | 42 | 100% |

| EBITDA % | 6.9% | 9.3% | |

Operating revenue grew by 48% due to ramp-ups in new projects
Operating EBITDA grew by 100% with marked improvement compared to last year
Strong momentum in digital clusters and electronic throttle grips
Undertaking capacity expansion plan due to new business wins
Won Mahindra last mile mobility award for Extraordinary Performance for 2025 and ACMA award for "Engineering Excellence TPM practice"

Suprajit Technology Center (STC)

Continues to launch new programs for products including digital clusters, throttle grips, actuators, sensors, braking products
Development of ABS with Blubrake and launch of sunroof cables progressing satisfactorily
Jointly awarded Most Innovative Supplier award by Ather with ICM
New STC building progressing well, expected completion in Q3 FY27

Outlook

Middle East turmoil remains major concern, leading to increased oil prices, commodity price increases, inflationary pressures, transportation challenges and supply shortages
Margin impact in ICM and PLE expected to be temporary
Overall guidance provided in earlier Press Release dated 25th May 2026 holds good despite cost push inflation

Awards and Recognitions

Bajaj JIPM Excellence award for TPM
TVSM Platinum award TPM Process in QM pillar
Mahindra Supplier Excellence award for Extraordinary Efforts
Ather Valued Partnership for Innovation
ACMA award for Excellence in Manufacturing (SED)

Division Nomenclature Update

DCD is now India Cables & Mechatronics (ICM)
SCD is now Global Cables & Mechatronics (GCM)
PLD is now Phoenix Lamps & Electricals (PLE)
SED remains Sensors, Electronics & Displays

STC Capabilities

150+ Full Time Employees (FTE) for R&D
43 Patents filed and 14 successfully granted
Global engineering strength: 70+ FTE Control Cable & Application Engineers, 20+ FTE Mechanical System Design, 40+ FTE Digital Clusters & PCB, 20+ FTE Control Software, 4+ FTE Magnetic & Mechatronic Design

Growth Strategy

Organic:

Technology development through STC across 3 product lines (Actuation, Electronics & Sensors, Braking & Brake Release)
Geographic expansion targeting Japanese, Chinese, Korean customers
Technology partnerships (e.g., Blubrake for ABS technology in India, China, Brazil and South-East Asia)

Inorganic:

8 acquisitions experience through share-deals, asset deals, carve outs, mergers
Strategy: acquire control cable businesses outside India, acquire specific technology leaders in India

Growth Forecast

Target to grow consolidated business by 5-10% better than global industry growth (5-year average)
Maintain strong double-digit margins

Tax Rate Explanation

Higher Effective Tax Rate (ETR) in Consolidated Financial statements due to losses in some subsidiaries resulting in lower consolidated profit before tax. Deferred tax assets in few subsidiaries not recognized on prudent basis.